Aigen Investment Management LP Buys Shares of 5,120 Turning Point Brands, Inc. (NYSE:TPB)

Aigen Investment Management LP purchased a new position in Turning Point Brands, Inc. (NYSE:TPB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,120 shares of the company’s stock, valued at approximately $221,000.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in Turning Point Brands in the 1st quarter worth about $64,000. BNP Paribas Financial Markets grew its stake in Turning Point Brands by 6.8% during the first quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock valued at $532,000 after acquiring an additional 1,159 shares in the last quarter. Sei Investments Co. increased its holdings in Turning Point Brands by 6.1% during the 1st quarter. Sei Investments Co. now owns 111,958 shares of the company’s stock worth $3,280,000 after acquiring an additional 6,470 shares during the period. Vanguard Group Inc. boosted its holdings in Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after purchasing an additional 92,147 shares during the period. Finally, Quadrature Capital Ltd boosted its holdings in Turning Point Brands by 52.1% in the 1st quarter. Quadrature Capital Ltd now owns 12,884 shares of the company’s stock valued at $377,000 after purchasing an additional 4,416 shares during the period. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Price Performance

TPB stock opened at $60.58 on Friday. The firm has a market cap of $1.07 billion, a P/E ratio of 24.04 and a beta of 0.63. The firm’s fifty day moving average is $44.60 and its 200 day moving average is $38.38. Turning Point Brands, Inc. has a 52 week low of $21.66 and a 52 week high of $61.47. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.17 and a current ratio of 4.21.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The firm had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 earnings per share. Research analysts predict that Turning Point Brands, Inc. will post 2.62 earnings per share for the current year.

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a $0.07 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.46%. Turning Point Brands’s payout ratio is currently 11.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TPB. Benchmark increased their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer initiated coverage on Turning Point Brands in a report on Thursday. They issued an “outperform” rating and a $65.00 price target on the stock. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. StockNews.com downgraded shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Finally, Roth Mkm started coverage on shares of Turning Point Brands in a research note on Thursday, September 19th. They issued a “buy” rating and a $50.00 price target for the company. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $60.00.

Insider Activity

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the sale, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. This represents a 4.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.20% of the company’s stock.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.